HBK Sorce Advisory LLC Raises Holdings in Citigroup Inc. (NYSE:C)

HBK Sorce Advisory LLC increased its position in Citigroup Inc. (NYSE:C) by 19.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 14,086 shares of the company’s stock after purchasing an additional 2,283 shares during the period. HBK Sorce Advisory LLC’s holdings in Citigroup were worth $1,000,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in C. Orion Capital Management LLC acquired a new stake in Citigroup during the 4th quarter worth $28,000. American National Bank & Trust purchased a new stake in shares of Citigroup in the first quarter valued at about $29,000. Mascagni Wealth Management Inc. acquired a new stake in shares of Citigroup during the fourth quarter worth about $34,000. Runnymede Capital Advisors Inc. purchased a new position in shares of Citigroup during the fourth quarter worth about $39,000. Finally, Whipplewood Advisors LLC increased its position in Citigroup by 79.2% in the 1st quarter. Whipplewood Advisors LLC now owns 570 shares of the company’s stock valued at $40,000 after acquiring an additional 252 shares during the period. 71.72% of the stock is owned by hedge funds and other institutional investors.

Citigroup Stock Performance

Shares of C opened at $82.64 on Thursday. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 1.52. Citigroup Inc. has a 52-week low of $53.51 and a 52-week high of $84.74. The company has a 50-day simple moving average of $73.68 and a 200-day simple moving average of $73.45. The company has a market capitalization of $154.35 billion, a PE ratio of 13.06, a P/E/G ratio of 0.63 and a beta of 1.33.

Citigroup (NYSE:C) last issued its earnings results on Tuesday, April 15th. The company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.84 by $0.12. Citigroup had a net margin of 7.95% and a return on equity of 6.94%. The company had revenue of $21.60 billion for the quarter, compared to analyst estimates of $21.34 billion. Equities research analysts predict that Citigroup Inc. will post 7.53 earnings per share for the current fiscal year.

Citigroup Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 23rd. Stockholders of record on Monday, May 5th were paid a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend was Monday, May 5th. Citigroup’s dividend payout ratio (DPR) is 35.39%.

Insider Buying and Selling

In related news, Director John Cunningham Dugan sold 4,417 shares of the business’s stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $68.26, for a total value of $301,504.42. Following the sale, the director now directly owns 13,048 shares in the company, valued at $890,656.48. The trade was a 25.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.08% of the company’s stock.

Wall Street Analysts Forecast Growth

C has been the subject of a number of recent research reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $92.00 price objective (down from $96.00) on shares of Citigroup in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an “outperform” rating on shares of Citigroup in a report on Tuesday, May 20th. JPMorgan Chase & Co. lowered their price objective on shares of Citigroup from $85.50 to $75.50 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley upped their price objective on shares of Citigroup from $90.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Piper Sandler restated an “overweight” rating and issued a $77.00 target price (down previously from $83.00) on shares of Citigroup in a research note on Wednesday, April 16th. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.30.

Citigroup Profile

Citigroup Inc, a diversified financial service holding company, provides various financial product and services to consumers, corporations, governments, and institutions worldwide. It operates through five segments: Services, Markets, Banking, U.S. Personal Banking, and Wealth. The Services segment includes Treasury and Trade Solutions, which provides cash management, trade, and working capital solutions to multinational corporations, financial institutions, and public sector organizations; and Securities Services, such as cross-border support for clients, local market expertise, post-trade technologies, data solutions, and various securities services solutions.